Common use of Nonrecourse Obligation Clause in Contracts

Nonrecourse Obligation. Notwithstanding anything contained in this Agreement or elsewhere to the contrary, except as specifically provided hereinafter in this Section X, no judgment for the repayment of the indebtedness secured hereby or interest thereon will be enforced against the Debtors or either of them personally or any property of the Debtors or either of them other than the Collateral in any action to collect any amount payable hereunder or to enforce performance of any of the other provisions of this Agreement; provided, however: (a) Nothing herein contained shall be construed as limiting or impairing the enforcement against the Collateral or otherwise prohibiting Secured Party from exercising any and all remedies which this Agreement or any other document, instrument or other agreement executed as security for or otherwise in connection with the indebtedness secured hereby (herein referred to collectively as the "Other Documents") permit, so long as the exercise of any remedy does not extend to execution against or recovery out of any property of Debtors or any of them other than the Collateral in any action to foreclose the security interest and pledge hereof or to collect any secured hereunder; (b) Debtors shall be fully and personally liable, jointly and severally, for any and all costs, expenses and other sums payable to third parties (including, without limitation, attorney's fees and court costs) paid or incurred by Secured to enforce the indebtedness secured hereby, to protect or enforce Secured Party's security interest in the Collateral or otherwise to enforce its rights under or pursuant to this Agreement, or to enforce its rights under or pursuant to any one or more of the Other Documents.

Nonrecourse Obligation. Notwithstanding anything contained in this Agreement or elsewhere to the contrary, except as specifically provided hereinafter in this Section X, no judgment for the repayment of the indebtedness secured hereby or interest thereon will be enforced against the Debtors or either of them personally or any property of the Debtors or either of them other than the Collateral in any action to collect any amount payable hereunder or to enforce performance of any of the other provisions of this Agreement; provided, however:any (a) Nothing herein contained shall be construed as limiting or impairing the enforcement against the Collateral or otherwise prohibiting Secured Party from exercising any and all remedies which this Agreement or any other document, instrument or other agreement executed as security for or otherwise in connection with the indebtedness secured hereby (herein referred to collectively as the "Other Documents") permit, so long as the exercise of any remedy does not extend to execution against or recovery out of any property of Debtors or any of them other than the Collateral in any action to foreclose the security interest and pledge hereof or to collect any secured hereunder; (b) Debtors shall be fully and personally liable, jointly and severally, for any and all costs, expenses and other sums payable to third parties (including, without limitation, attorney's fees and court costs) paid or incurred by Secured to enforce the indebtedness secured hereby, to protect or enforce Secured Party's security interest in the Collateral or otherwise to enforce its rights under or pursuant to this Agreement, or to enforce its rights under or pursuant to any one or more of the Other Documents.